“The increase in vehicle numbers also leads to a higher requirement
for maintenance and repair services, driving the demand for aluminum
welding wires. The global automotive industry is on the rise owing to
increased digital demands and diverging markets”

The research study covers the present scenario and growth prospects of
the global aluminum
welding wiresmarketfor 2017-2021. Technavio’s
database and industry-specific repositories are used for defining the
hypothesis for the study, which is further fine-tuned through primary
research involving industry experts.

The global aluminum welding wires market is expected to grow at a
consistent rate during the forecast period. Aluminum alloys are used for
various applications in industries such as automotive and
transportation, construction, ship building, and others. The 4043 alloy
finds extensive use in applications involving a base material belonging
to 6xxx series and most cast alloys. Another alloy belonging to the same
family series, 4047, is widely used in welding of automotive components,
heat exchangers, and body panels of cars and trucks.

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Technavio analysts highlight the following three factors that are
contributing to the growth of the global aluminum welding wires market:

Increasing demand for lightweight vehicles

The global demand for aluminum has been on the rise with the growing
demand for lightweight vehicles that use materials such as aluminum as a
welding material to bring down the overall weight of a vehicle. The
implementation of stringent global standards, such as the national
pollution-control standards set by the US Department of Transportation
or the US Environmental Protection Agency, has also fueled demand for
aluminum welding wires.

Chandrakumar Badala Jaganathan, a lead metals
and minerals research analyst at Technavio, says, “Aluminum
is identified as a versatile material and is the second most chosen
material after steel. It is used for applications in different end-use
industries, such as building and construction, electrical, machinery,
automotive, transportation, and other machinery.”

Increase in demand for welding wires for repair and maintenance

There has been a considerable increase in the demand for aluminum
welding wires for repair and maintenance applications in various
sectors, especially the automotive and infrastructure segments. Various
initiatives taken by organizations are helping to boost market growth
for repair and maintenance applications.

“The increase in vehicle numbers also leads to a higher requirement
for maintenance and repair services, driving the demand for aluminum
welding wires. The global automotive industry is on the rise owing to
increased digital demands and diverging markets,” adds Chandrakumar.

Rising demand for power infrastructure

Growing investments in electric power infrastructure will drive the
demand for welding consumables market. For instance, in Europe, the
demand for electric vehicles increased by 31,456 units from the first
quarter of 2014 to the first quarter of 2015. The EU has allotted USD 36
million for the development of electric vehicle charging infrastructure
across the Netherlands.

In North America, more than half of the transformers and transmission
lines are nearing their replacement dates. The US invested approximately
USD 50 billion in 2016 in replacements, upgrading, and expansion
activities.

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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